Nordic M&A News
March 27, 2018

- Denmark -

British consortium acquires Scandlines (Borsen)

First State Investment and Hermes Investment Management have acquired Scandlines from 3i, valuing the company at DKK 12.7bn. However, 3i has reinvested some of their capital into Scandlines and therefore remains as a part of the owners of Scandlines. As a result of the transaction, First State Investment owns 50.1 percent of the shares, while Hermes Investment Management and 3i own 14.9 and 35 percent of the company, respectively. 

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The board at Glunz & Jensen recommends investors to decline the offer (Finans)German-based Heliograph has offered the shareholders of Glunz and Jensen to acquire the company to DKK 64 per share, valuing the company at DKK 106.2m. The board at G&J recommends its shareholders to decline the offer, as they think it is too low. Monday, the Glunz & Jensen shares closed at a price of DKK 73, valuing the company at DKK 121.8m, which is a 14.7 percent higher valuation than the offer from Heliograph. 

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- Sweden -

SSAB is open to acquisitions in new markets (Dagens Industri)

"With a stronger balance sheet, we can look at acquisitions to expand our home markets from a strength position," CEO Martin Lindqvist told Dagens Industri. He has managed to reduce the company's net debt to the lowest since 2006, the year before SSAB acquired Ipsco for USD 7.7bn. He adds that they are not looking for acquisitions in the same size as the Ipsco deal. 

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- Norway -

Gaming Innovation Group acquires Nordbet (Hegnar)

Gaming Innovation Group has entered into an agreement to acquire the German sports betting company. Nordbet has a sports betting license in the German state of Schleswig-Holstein, a license that will allow GIG's own operators to offer sports betting in Germany. 

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- Finland -

Peikko Acquires Lithuanian-based ASD Konstrukcijos (Rakennuslehti)

Finnish Peikko Group has acquired the Lithuanian structural engineering company ASD Konstrukcijos. Peikko has worked with ASD Konstrukcijos for several years now, and following this deal, Peikko plans to utilize the ASD team as a platform to build a larger engineering team in Vilnius. 

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Prepared by Morten Loft Sørensen